In-flight catering service’s market growth in the coming years is inevitable by giving the fact that increasing the rate for air travel worldwide has a considerable boost. Market Research Future reveals that the global in-flight catering service market is set to demonstrate a steady valuation by attaining 5% CAGR during the forecast period 2016 -2021, in its detailed study.
Compass Group, SATS, Servair, Dnata, Air Culinaire, Goddard Catering, Do & Co, Egypt Air In-Flight Services, Gate Gourmet, Emirates Flight Catering, are some of the top known vital players who are contributing to the market growth.
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Market Drivers & Trends
The key factors that are impacting the market of in-flight catering service growth positively are accredited to the expansion of global aircraft fleet, increase in the number of air travels, and emergence of low-cost airline companies mainly in the developing countries. With this, the burgeoning customer demand for the options of nutritious food while traveling is yet another crucial factor driving growth in the market. At the same time, it is the economy class that is anticipated to attain approximately $12 billion market share during the forecast period and also to inflate at a higher CAGR after the business class aircraft.
On the other side, full-service carriers recorded almost 80% of the market share, and according to the study, it will continue to lead the inflight catering service market substantially. As an add-on, food safety is the foremost focus area for companies operating in the global in-flight catering services market. As quality and hygiene becoming a pivotal factor for passengers at the time of choosing a flight, catering companies are adopting strict and rigid safety and sanitation measures to maintain food quality.
Furthermore, the market is also motivated by the growth of airline passengers over the past years. The aviation sector is witnessing a tremendous surge with the starting of emphasis on offering quality of food services to the passengers. With this, the rising disposable income, advancement in technology in food ordering mechanism, and rising on-board catering is contributing to the market growth and are expected the market to grab a vital position in the forecast period.
- A design firm PriestmanGoode has turned its creative imagination to sustainable inflight catering and has put its best ideas on display in a special exhibition at the Design Museum in London.
- Emirates Flight Catering invests in solar energy with massive investment funds on the gear.
Global Inflight catering service market study includes segmental analysis, which has been done by aircraft class, by flight type, and by catering type.
In terms of aircraft class: First Class, Business Class, Premium Economy Class, and Economy Class are the segments.
In terms of flight type: Full service and low cost are the segments.
In terms of catering type: Bakery & Confectionery, Meals, Beverages, and others are the segments.
The study of the global in-flight catering service market regionally has been done among the main regions of North America, the Middle East & Africa, Asia Pacific, Europe, and South America.
Among these, the North American in-flight catering service market would remain to be the most profitable market across the world. The market here is moving towards saturation during the forecasted period, owing to its growth rate that would be quite lower than the regions of the Asia Pacific and Middle East & Africa. With this, the Middle East and Africa in-flight catering market will be one of the fastest-growing regions amongst all the regions across the globe.
At the same time, the Middle market of the in-flight catering service is comparatively developing at steady pace than the African market where the air connectivity is relatively weak. The larger part of the income in the aircraft catering services comes from full-service carriers, which could restrict the market to inflate during the assessment period.
In the last, the Asia Pacific region owing to the high growth has become the fastest-growing region for this sector and will endure being the fastest-growing till the anticipated period. According to the study, China will continue to present the market by showing sturdy rates of growth.
The reports also cover country level analysis:
The market report for In-Flight Catering Service Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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